Ameristar
Kansas City has a new owner after Pinnacle Entertainment Inc. agreed to
acquire all of Ameristar Casinos Inc. in a deal worth almost $2.8
billion.
The
deal includes $869 million cash for all outstanding common shares in
Ameristar, at $26.50 a share, plus assumption of $1.9 billion in debt.
Las
Vegas-based Pinnacle also will get an Ameristar casino in the St. Louis
area, where it already owns two casinos. Ameristar owns a total of
eight casinos in Louisiana, Missouri and Indiana.
Last
month, Ameristar outperformed the other three casinos on the Missouri
side of the state line, with $18.21 million in revenue and a 0.3 percent
uptick in patrons.
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